DGAP-News: SYGNIS Pharma AG / Key word(s): Research Update
SYGNIS Pharma AG: GBC Research values SYGNIS at EUR42.6 million and
issues a 'BUY' recommendation
17.07.2013 / 10:00
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Press Release
GBC Research values SYGNIS at EUR42.6 million and issues a 'BUY'
recommendation
- This valuation amply exceeds the current market quotation and ascribes
the shares a potential upside of nearly 70%.
- This is the second analyst coverage done this year that evaluates the
company much higher than the current market price, confirming the
potential market upside of the shares.
- GBC and Edison valuation support the robustness of the new business of
SYGNIS.
- GBC bases their analysis on the current portfolio, including
QualiPhi(R), which was licensed to Qiagen and will be launched in the
third quarter this year.
Madrid/Heidelberg, 17 July 2013 - GBC Research, a German independent
research house focusing on listed small, and midcap companies, has
published a full analysis of the DNA amplification and sequencing company
SYGNIS Pharma AG (Frankfurt: LIO1; ISIN: DE000A1RFM03; Prime Standard
segment of the German Stock Exchange).
As a result of GBC's analysis of the Company, the objective value of
SYGNIS, taking into account the launch of QualiPhi(R) in the third quarter
of 2013 - licensed by Qiagen - as well as the license of three further
products this year: PrimPol, QualiPhi mutants and Double Switch, would
reach EUR42.6 million.
SYGNIS shares were listed at EUR2.75 on the Frankfurt stock exchange at
close of markets on Friday, 12th July, 2013 and a market cap of about EUR26
million. The GBC analysis values the Company at a premium of nearly 70% to
the close price last Friday.
The out-licensing agreement with Qiagen for QualiPhi(R) in the DNA
amplification space serves as a blueprint for other SYGNIS products. Since
their development has already been completed, the entire product portfolio
could be out-licensed in the current financial year. Based on this
assumption, GBC expects first market sales for QualiPhi(R) to be generated
in the current financial year. For 2014 GBC assumes a significant revenue
increase, which should allow the company to achieve operational break-even.
In future, SYGNIS expects to deliver additional product developments in the
life sciences sector, which should lead to an acceleration of top-line
growth.
Different studies project high growth rates for next generation sequencing
(NGS) technologies in the coming years, which are expected to average 22.7%
compound annual growth rate (CAGR) through 2016. Following GBC's analysis,
SYGNIS' broad product range places the Company in a very good position to
benefit from this strong market growth, especially as the technologies
developed by the Company have the potential to become new world standards
in the area of DNA amplification and sequencing.
'For SYGNIS, to have two independent first level analysts, from two
different institutions and countries, predicting a target valuation around
EUR40 million, is a clear evidence of the strength of the new business
approach and the important potential upside the share offers to investors'
commented Pilar de la Huerta, CEO/CFO of SYGNIS.
About SYGNIS Pharma AG: www.sygnis.de
After the merger in 2012 between X-Pol Biotech, specialising in DNA
amplification and sequencing, and SYGNIS Pharma AG, listed in the German
Stock Exchange (Prime Standard segment, Tick: LIO1; ISIN: DE000A1RFM03),
SYGNIS' new mission is to develop and distribute technologies and products
from X-Pol, which has a commercial product in the DNA amplification
segment, QualiPhi(R) and is currently developing other products in the
field of Next Generation Sequencing.
For further information please contact:
SYGNIS Pharma AG
Pilar de la Huerta
CEO/CFO
Tel: +34-918063089
Email: pdelahuerta@sygnis.es
# # # Disclaimer:
Some statements included in this press release, relating neither to proven
financial results nor to other historical data, should be viewed as
forward-looking, i.e. not definitive. Such statements are mainly
predictions of future results, trends, plans or goals. They should not be
considered to be total guarantees since given their very nature, they are
subject to known and unknown risks, as well as to aspects beyond human
control, and can be affected by other factors as a consequence of which the
actual results, plans and goals of SYGNIS Pharma AG may deviate greatly
from the established conclusions or implied predictions contained in such
statements. SYGNIS does not undertake to publicly update or revise said
statements in light of new information or future results or for any other
reason. # # #
End of Corporate News
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17.07.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: SYGNIS Pharma AG
Im Neuenheimer Feld 515
69120 Heidelberg
Germany
Phone: 06221 454-6
Fax: 06221 454-700
E-mail: contact@sygnis.de
Internet: www.sygnis.de
ISIN: DE000A1RFM03
WKN: A1RFM0
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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221552 17.07.2013
DGAP-News: SYGNIS Pharma AG: GBC Research values SYGNIS at EUR42.6 million and issues a 'BUY' recommendation
| Source: EQS Group AG